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Rate continues to grind higher,..........>

DOLLAR-YEN
DOLLAR-YEN: Rate continues to grind higher, semi-inspired by the further
recovery in US equities as e-mini S&P continues to push to fresh highs (although
a further 2.1% rally will be needed to erase yesterday's losses). Resistance may
be found on an approach into yesterday's highs at Y112.74 ahead of the 21-dma at
Y112.89. A further improvement will bring the 200-wma into range at Y113.10.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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